In this course, you will start by reviewing the fundamentals of investments, including the trading off of return and risk when forming a portfolio, asset pricing models such as the Capital Asset Pricing Model (CAPM) and the 3-Factor Model, and the efficient market hypothesis. You will be introduced to the two components of stock returns – dividends and capital gains – and will learn how each are taxed and the incentives provided to investors from a realization-based capital gains tax. You will examine the investment decisions (and behavioral biases) of participants in defined-contribution (DC) pension plans like 401(k) plans in the U.S. and will learn about the evidence regarding the performance of individual investors in their stock portfolios. The course concludes by discussing the evidence regarding the performance of actively-managed mutual funds. You will learn about the fees charged to investors by mutual funds and the evidence regarding the relation between fees charged and fund performance. Segments of the portfolios of mutual funds that may be more likely to outperform and examples of strategies designed to “earn alpha” will also be introduced.
Learners are welcome to take this course even if they have not completed "Investments I: Fundamentals of Performance Evaluation," as the first module contain a review of investment fundamentals and regression analysis to get everyone up to speed. Also, the course contains several innovative features, including creative out-of-the-studio introductions followed by quick-hitting "Module in 60" countdowns that highlight what will be covered in each module, four "Faculty Focus" interview episodes with leading professors in finance, and a summary of each module done with the help of animations!
This course is part of the iMBA offered by the University of Illinois, a flexible, fully-accredited online MBA at an incredibly competitive price. For more information, please see the Resource page in this course and onlinemba.illinois.edu.
Este curso faz parte do Programa de cursos integrados Financial Management
Investments II: Lessons and Applications for Investors
oferecido por
Informações sobre o curso
4.8
271 classificações
Habilidades que você terá
StockFinancial MarketsInvestment StrategyInvestment
Programa - O que você aprenderá com este curso
Semana
1Course Orientation
You will become familiar with the course, your classmates, and our learning environment.
3 vídeos (total de (Total 22 mín.) min), 7 leituras, 1 teste
3 videos
Get to know Scott (introductory video used for his iMBA course)6min
See the “Movie Trailer” for Scott’s Course!1min
7 leituras
Syllabus10min
A Preview of Coming Attractions: Introduction Videos for Modules 1-410min
What You Will Learn: Course Summary with Animations10min
Learning from the Experts: Full Collection of Faculty Focus Episodes10min
About the Discussion Forums10min
Updating Your Profile10min
Social Media10min
1 exercício prático
Orientation Quiz10min
Module 1: Fundamentals and Composition of Returns
In Module 1, we will briefly review the fundamentals of investments, including the trading off of return and risk when forming a portfolio, asset pricing models such as the Capital Asset Pricing Model (CAPM) and the 3-Factor Model, and the efficient market hypothesis. We will also discuss the two components of stock returns – dividends (cash received) and capital gains (changes in price since purchase).
11 vídeos (total de (Total 145 mín.) min), 3 leituras, 1 teste
11 videos
1-1.1. Basics of Return and Risk18min
1-1.2. Capital Asset Pricing Model (CAPM)20min
1-1.3. 3-Factor Model and Market Efficiency15min
1-1.4. Interpretation of Regression Model Results13min
1-1.5. Regression Analysis of Returns to Small-Value Stocks13min
1-2.1. Dividends, Capital Gains, and Firm Payout Policy14min
1-2.2. Realization-Based Capital Gains Tax15min
1-2.3. Seasonality in Stock Returns20min
Summary of Module 1 with Animations8min
Like this course? Learn more with the iMBA! (Optional)1min
3 leituras
Module 1 Overview10min
Module 1 Lecture Slides10min
Module 1 Spreadsheet10min
1 exercício prático
Module 1 Quiz34min
Semana
2Module 2: Investment Decisions in DC Pension Plans
In Module 2, we discuss the investment decisions of participants in defined-contribution (DC) pension plans like 401(k) plans in the U.S. Not falling prey to common behavioral biases is key to sound financial decision-making in these retirement plans, so we will discuss common behavioral biases of DC pension plan participants.
12 vídeos (total de (Total 128 mín.) min), 3 leituras, 1 teste
12 videos
2-1.1. Overview of Key Biases in Decisions9min
2-1.2. Representativeness4min
2-1.3. Familiarity Bias and Background Risk22min
2-1.4. Endorsement Effects7min
2-1.5. Naïve Diversification18min
2-1.6. Inertia4min
2-1.7. Option Confusion5min
2-1.8. Power of Defaults16min
2-1.9. Bottom Line on Biases in Investment Decisions7min
2-2.1. Faculty Focus with Dean Jeffrey Brown (interview)23min
Summary of Module 2 with Animations3min
3 leituras
Module 2 Overview10min
Module 2 Lecture Slides10min
Module 2 Recommended Reading10min
1 exercício prático
Module 2 Quiz16min
Semana
3Module 3: Performance of Individual Investors
In Module 3, we will learn about the evidence regarding the performance of individual investors in their stock portfolios. A few key behavioral biases that affect many individuals will be highlighted, and the potential information embedded in some parts of individual investors’ stock portfolios will be discussed.
14 vídeos (total de (Total 223 mín.) min), 2 leituras, 1 teste
14 videos
3-1.1. Overview of the Performance of Individual Investors25min
3-2.1. Overconfidence17min
3-2.2. Loss Aversion16min
3-2.3. Effects of Loss Aversion (Part 1): Loss Aversion & Tax Incentives for Stock Trades18min
3-2.4. Effects of Loss Aversion (Part 2): Personal Connection to Asset12min
3-2.5. Effects of Loss Aversion (Part 3): Corporate Finance Decisions9min
3-2.6. Faculty Focus with Professor Yuhai Xuan (interview)28min
3-2.7. Effects of Loss Aversion (Part 4): Explanation for Momentum?5min
3-2.8. Effects of Loss Aversion (Part 5): Importance of Endowment15min
3-2.9. Emotion and Financial Decisions15min
3-3.1. Local Investments35min
3-3.2. Changing Nature of Individual Investors?15min
Summary of Module 3 with Animations2min
2 leituras
Module 3 Overview10min
Module 3 Lecture Slides10min
1 exercício prático
Module 3 Quiz16min
Semana
4Module 4: Performance of Mutual Funds and Search for Alpha
In Module 4, we will learn about the evidence regarding the performance of actively-managed mutual funds. We will also discuss a few examples of portfolio strategies designed to “earn alpha” (i.e., yield positive risk-adjusted returns).
17 vídeos (total de (Total 279 mín.) min), 3 leituras, 1 teste
17 videos
4-1.1. Overview of Performance of Mutual Funds16min
4-1.2. Fees and Fund Performance10min
4-1.3. Brokers and Fund Performance15min
4-1.4. Trends in Mutual Fund Industry7min
4-2.1. Introduction to Search for Alpha5min
4-2.2. Mutual Fund Disclosure6min
4-2.3. Mutual Funds and Local Investments21min
4-2.4. Information Networks and Performance21min
4-2.5. Closet Indexing and Performance Persistence20min
4-2.6. Valuing Complicated Firms and Exploiting Inattention27min
4-2.7. Faculty Focus with Professor Joshua Pollet (interview)24min
4-2.8. Potential Modern Sources of Information19min
4-2.9. Faculty Focus with Professor Jiekun Huang (interview)19min
4-3.1 Economics of Mutual Funds28min
4-3.2 International Evidence on Active Mutual Fund Management15min
Summary of Module 4 with Animations13min
3 leituras
Module 4 Overview10min
Module 4 Lecture Slides10min
Module 4 Recommended Reading10min
1 exercício prático
Module 4 Quiz22min
Course Conclusion
It's now time to say goodbye to the Investments II course! Key takeaways from the course are reviewed. Don't forget to answer the survey question regarding how was Scott's sequel that is located at the end of the Conclusion to Investments II: Lessons and Applications for Investors!
1 vídeo (total de (Total 14 mín.) min)
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Melhores avaliações
por AC•Dec 13th 2016
Excellent class! Very useful information for investing. Great faculty focus sessions with UIUC researchers!. Also love the passion that Dr. Weisbenner displays in teaching. Would highly recommend!
por RB•Dec 7th 2017
I could have known this course before 2009 recession to be a better investor and its great teaching of behavioral finance . This helped me to identify personal bias in investing .
Instrutores
Scott Weisbenner
William G. Karnes Professor of FinanceDepartment of Finance, College of Business
Comece a trabalhar rumo ao seu mestrado
Este curso é parte de uma graduação 100% on-line Master of Business Administration (iMBA) pela University of Illinois at Urbana-Champaign.
Caso seja aceito para o programa completo, seus cursos contarão para sua graduação.
Sobre University of Illinois at Urbana-Champaign
The University of Illinois at Urbana-Champaign is a world leader in research, teaching and public engagement, distinguished by the breadth of its programs, broad academic excellence, and internationally renowned faculty and alumni. Illinois serves the world by creating knowledge, preparing students for lives of impact, and finding solutions to critical societal needs.
Sobre o Programa de cursos integrados Financial Management
This Specialization covers the fundamentals of strategic financial management, including financial accounting, investments, and corporate finance. You will learn to evaluate major strategic corporate and investment decisions and to understand capital markets and institutions from a financial perspective, and you will develop an integrated framework for value-based financial management and individual financial decision-making.
The Financial Management Specialization is part of the University of Illinois iMBA Program. Each course in this Specialization also fulfills a portion of the requirements for a University of Illinois course that can earn you college credit.
When you complete the Financial Management Specialization, you will:
· Have a solid foundation in developing an integrated framework for strategic financial decision-making.
· Have a thorough understanding of financial statements and the financial information they provide, and be able to critically evaluate and analyze cash flows statements.
· Understand the management and evaluation of portfolios and firm valuation techniques.
· Understand how to incorporate risk and uncertainty into investment decisions and understand how companies make financing and investment decisions.
Perguntas Frequentes – FAQ
Quando terei acesso às palestras e às tarefas?
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O que recebo ao me inscrever nesta Especialização?
Quando você se inscreve no curso, tem acesso a todos os cursos na Especialização e pode obter um certificado quando concluir o trabalho. Seu Certificado eletrônico será adicionado à sua página de Participações e você poderá imprimi-lo ou adicioná-lo ao seu perfil no LinkedIn. Se quiser apenas ler e assistir o conteúdo do curso, você poderá frequentá-lo como ouvinte sem custo.
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